(a) Projects with a HUD-insured or HUD-held mortgage. (1) All the provisions of part 207, subpart B of this chapter, covering mortgages insured under section 207 of the Act, apply to equity loans or acquisition loans on a project insured under section 241(f) of the Act, except the following provisions: Sec.207.251 Definitions.207.252 First, second and third premium.207.252a Premiums--operating loss loans.207.252b Premiums--mortgages insured pursuant to section 223(f) of the
Act.207.252c Premiums--mortgages insured pursuant to section 238(c) of the
Act.207.254 Insurance endorsement.
(2) For the purposes of subpart F of this part, all references in part 207 of this chapter to section 207 of the Act and to the term ``mortgage'' shall be construed to refer to section 241(f) of the Act and ``equity or acquisition loan,'' respectively.
(b) Projects without a HUD-insured or HUD-held mortgage. The provisions of subpart D of this part shall be applicable to a project without a HUD-insured or HUD-held mortgage that is receiving an equity loan or acquisition loan under subpart E of this part in connection with a plan of action approved by the Commissioner under part 248 of this chapter.
(c) All of the definitions in Sec. 241.1005 apply to subpart F of this part. In addition, as used in subpart F of this part, the term ``contract of insurance'' means the agreement evidenced by the Commissioner's insurance endorsement and includes the provisions of subpart F of this part and of the Act.